This week CRIO, Inc. (“CRIO”) participated in Mortgage Bankers Association’s Commercial and Multifamily Real Estate Insurance Conclave, which was held on September 16th in Overland Park, Kansas. The audience included about 50 insurance professionals from commercial lending and loan servicing organizations as well as from life insurance companies and federal regulatory agencies who are responsible for property and casualty insurance compliance for portfolios of commercial and multifamily loan portfolios.
“In this post Hurricane Katrina and Superstorm Sandy world, it is becoming more difficult and expensive to obtain the flood insurance required for borrowers to remain in compliance with the flood insurance requirements imposed by federally-regulated lending institutions. Our private flood insurance program will be the missing piece of the puzzle that the flood insurance marketplace has lacked for quite a while, by providing a new primary layer flood insurance solution as an alternative to the Federal Government’s flood insurance product offered through the National Flood Insurance Program (NFIP),” said Dan Freudenthal, President of CRIO and CRIO Group.
His presentation titled “How to build a bridge over troubled waters” gave a comprehensive overview of the flood insurance marketplace and flood-related challenges faced by lenders and borrowers. “It was designed to help lenders understand how to identify hidden flood exposure as well as how best to mitigate those risks while keeping borrowers happy,” Mr. Freudenthal explained.
Mr. Freudenthal was presenting together with Joseph Cecil, a representative for FEMA.
As a nationally recognized expert in the area of flood risk, Mr. Freudenthal has been an active speaker at risk management and commercial real estate conferences about the topics of flood risk, flood insurance, flood zone correction and elevation certificates, and has published numerous articles in commercial real estate, risk management and insurance industry publications. Mr. Freudenthal co-founded and serves as President of CRIO Group.